Berenberg analyst Andres Castanos-Mollor lowered the firm’s price target on Albemarle (ALB) to $74 from $92 and keeps a Hold rating on the shares. The company reported strong Q1 results on April 27 but the print has not improved short-term expectations nor had a lasting impact on the share price, the analyst tells investors in a research note. The firm believes e Albemarle shares will remain an underperformer until lithium prices recover.
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Read More on ALB:
- Albemarle Shareholders Approve Key Proposals at Annual Meeting
- Albemarle price target lowered to $65 from $75 at Scotiabank
- Albemarle price target lowered to $58 from $68 at Morgan Stanley
- Albemarle price target lowered to $107 from $123 at Oppenheimer
- Albemarle price target lowered to $95 from $102 at KeyBanc
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